Moelis & Company served as lead financial advisor and Cain Brothers, a division of KeyBanc Capital Markets, also served as a financial advisor to the sellers.
RHA is a provider for individuals with intellectual and developmental disabilities, behavioral health needs and substance use challenges with operations in Georgia, Florida, North Carolina and Tennessee.
“As with all of our healthcare investments, a primary focus is the quality of the care delivered by the management team and RHA exceeded expectations in this area,” said Brian Beckwith, CEO of Formation. “A resident-focused approach will remain a focal point in new investments, which often leads to excellent returns. We look forward to following RHA’s continued success.”